Today a man who has been involved in the financial markets for 50 years told King World News that as the U.S. lies and suppresses the price of gold, its people are getting crushed. He warned the public is being fed one lie after another by the “Ministry of Propaganda” -- the mainstream media. Below is what John Embry had to say.

Embry: “I’m focused on the gold market, which is clearly getting hammered today. When the open interest rose sharply several weeks ago as the price was advancing, you knew then that the paper price of gold was becoming vulnerable because the anti-gold cartel has been using this same wash/rinse and repeat cycle for years....

“They get the speculators on the long side, and as soon as they are in a vulnerable position, they come up with some manufactured news and the cartel starts taking down the price of gold which knocks these paper traders out of their longs. We are just going through the same cycle again.

Gold is already down about $80 from its recent highs, but the fact is that nothing has changed since gold traded at $1,390 vs. today, except that these guys have the paper longs liquidating. In the long run this means absolutely nothing. At this point gold is extremely cheap, very few people own it, sentiment is rotten, and every currency in which gold is denominated in is being seriously debased. Everyone who is not buying physical gold at these prices is making a huge mistake.

There is a war going on in the gold market and it is a war of psychology. This is why they keep trying to wear people out psychologically and exhaust them into selling. The problem is that this is not going to work with goldbugs. People invested in gold know that the currencies are being destroyed and that governments are imploding their economies with what will be seen in the fullness of time as catastrophic policies.

I don’t believe the central planners can hold this together through the end of this year because the problems in the system are simply too acute. As an example, food prices are going through the roof compared to last year. This is what the average person has to deal with.

The average person’s income isn’t rising, and yet the prices of things they have to consume such as food, energy, shelter, and healthcare, all of these things are rising in price. But the central planners keep telling people there is no inflation. The government is just lying to the people.

Virtually every economic report from the government is a lie -- from GDP growth, to inflation, etc.. The central planners are trying to sell people on the fallacy that the U.S. economy is recovering and this is bad for gold and good for the stock market. That is patently false. The truth is that if they don’t continue to pump money into the system, it will crater.

So the idea that this tapering will continue is preposterous. It’s just another government sponsored lie that is fed to the public through its ‘Ministry of Propaganda’ -- the mainstream media. The reality is that the West can’t support both its economies and its currencies. They are mutually exclusive.

I know the central planners are going to try to hold together the economy and the financial system, and this means the currencies are going to crater. This will be wildly bullish for things like gold, silver, and other tangible assets. None of this artificial manipulation is going to fool any of the army of investors in gold and silver around the world. These people are just too well-informed and they know how this is going to end -- very badly.

Right now financial assets are grossly overvalued, and hard assets such as gold and silver are extremely undervalued. But because of the vulnerability of the global financial system, these guys are going to try to perpetuate this lie as long as they can because the minute this reverses, it’s all over for them and they know it.”

Taking a hit today. This Goldman call for 1050 gold hitting all the financial media again today. I hope so...there's going to be some buying going on.

Copper well under $3...how low can we go on silver this summer?

I hope it happens. $1050 Gold would be an orgasmic dream come true!!!Everyday, I want to buy gold, ...but it keeps going down, so I have to wait 24 hrs to see the downward trend reflected at Karatbars , ...then it goes down again, ...and keeps going down. Hopefully one day soon it will close up so I can lock in the low price already. I shouldn't complain... I could have worse problems.

Unfortunately it is too prone to manipulation & volatility.The fact that it's an industrial metal that's consumed makes it all the more LESS likely IMO to be re-monetized in the event of a collapse or a reset.

Not only is the re-monetization of silver unlikely to occur, if it did, you might want to move.The impact of that on your local economy would be devastating.

Unfortunately it is too prone to manipulation & volatility.The fact that it's an industrial metal that's consumed makes it all the more LESS likely IMO to be re-monetized in the event of a collapse or a reset.

Not only is the re-monetization of silver unlikely to occur, if it did, you might want to move.The impact of that on your local economy would be devastating.

Silver is more volatile to be sure, but gold is equally manipulated. Silver is currently being bought at a quantity of roughly 50 to 1 to gold, but the supply is only around 7 to 1. The industrial demand drains the supply of silver, causing the supply / demand ratio to be even more so in silver's favour, versus gold which is hoarded. Silver, although more volatile, also outperforms gold dramatically on a percentage basis. When gold gets way out of reach for common people, they will turn to silver, if they're not already. Both gold and silver are prudent investments long term, but I'm personally much more bullish on silver.

I definitely like both longterm, although I have no idea where they will be next month or even next year. I buy them both (among other metals and many other holdings) every week when I dollar cost average with new $ into my investment accounts.

Silver is more volatile to be sure, but gold is equally manipulated. Silver is currently being bought at a quantity of roughly 50 to 1 to gold, but the supply is only around 7 to 1. The industrial demand drains the supply of silver, causing the supply / demand ratio to be even more so in silver's favour, versus gold which is hoarded. Silver, although more volatile, also outperforms gold dramatically on a percentage basis. When gold gets way out of reach for common people, they will turn to silver, if they're not already. Both gold and silver are prudent investments long term, but I'm personally much more bullish on silver.

I got to sit down with, and pick Jim Sinclair's brains all Saturday afternoon. Wow! What a blast!That man has forgotten more about gold & precious metals than most people will ever know.Fabulous guy!!! And he introduced me to a few of his buddies, and suggested we get together to discuss my smaller, more transaction friendly weights, ...because "It would not be unwise". He also gave me his email & phone number and said I could contact him any time for one on one advice & personal mentorship.

I am sooo stoked! And damn do I ever feel vindicated

He advises those who have the testicular fortitude who are riding the volatility in silver to exchange it for Gold, once the ratio goes back to 15:1. Personally, I think it takes more than testicular fortitude, but rather something even greater: Ovarian Fortitude!!!

I definitely like both longterm, although I have no idea where they will be next month or even next year. I buy them both (among other metals and many other holdings) every week when I dollar cost average with new $ into my investment accounts.

According to Mr. Sinclair, ...we should expect to see some very interesting things over the latter half of 2014.I dollar cost average weekly as well, and the best part is the funds in my gold acquisition accounts are topped up every Friday with passive residual income cash flow and free gold I didn't have to pay for.

I got to sit down with, and pick Jim Sinclair's brains all Saturday afternoon. Wow! What a blast!That man has forgotten more about gold & precious metals than most people will ever know.Fabulous guy!!! And he introduced me to a few of his buddies, and suggested we get together to discuss my smaller, more transaction friendly weights, ...because "It would not be unwise". He also gave me his email & phone number and said I could contact him any time for one on one advice & personal mentorship.

I am sooo stoked! And damn do I ever feel vindicated

He advises those who have the testicular fortitude who are riding the volatility in silver to exchange it for Gold, once the ratio goes back to 15:1. Personally, I think it takes more than testicular fortitude, but rather something even greater: Ovarian Fortitude!!!

Cool! I know from his comments that he's more into Gold, but if I recall, it was Jim who was the one who had commented that silver would be gold on steroids, while doing a Greg Hunter interview.

Cool! I know from his comments that he's more into Gold, but if I recall, it was Jim who was the one who had commented that silver would be gold on steroids, while doing a Greg Hunter interview.

Ya, he thinks if you're going to play silver, then put your blinders on and wait until the ratio improves, then exchange it for GOLD. Me personally, I'd rather just get the gold to start. I don't have Ovarian fortitude.

I agree with him. I also agree with Mike Maloney who says 20K, and I also agree with the late Adrian Douglas who made a case for $56K, ...an opinion also shared by Jim Sinclair. Not sure how long it'll take to get there tho, but in the meantime, ...I'm gonna keep stacking until it does. We are also told to expect a major financial roller-coaster in the later half of 2014. Who knows?

The important figure is that 5 year figure in green. I don't have the daytrader mentality. I'm looooong. way looongIt doesn't matter to me whether it is up, down or sideways, ...my preference is for it to go down even more.But it really doesn't matter, because I believe in the long run, it preserves wealth, ...besides, ...I get mine FREE

Not really... That means that 6 years ago, that green number was over 680.00

The point being is that the price of gold is dropping and will probably continue to drop for the next 20 years... So what you're buying today is getting devalued.

Now... if it goes BACK up to current rates, or beyond, in 20 years, yes, you've profited.

but it's still valued on the US dollar... Time will tell of course.

None of the people you quote truly "know".

They are just guessing and using their names (which is not worth much really) to make some money in the meantime.

Why do you think it will continue to drop for the next 20 years? Aside from stock guys like Buffett and Icahn who don't care, every top investor and fund manager I can think of have a generally bullish view of gold for the long term.

I saw a guy on CNBC a few months ago who I'd never heard of who said he'd been trading gold for 20 years. He said gold would soon be $900 when it was $1200. It's now around $1300 some 6 months later, and never got any lower than it was when he made the prediction.

The US dollar has been lowered in recent years with all the printing and pumping. Rates have been held down, but they will inevitably rise. We'll eventually see serious inflation, although it may take a while. What's your rationale?

Not really... That means that 6 years ago, that green number was over 680.00

The point being is that the price of gold is dropping and will probably continue to drop for the next 20 years... So what you're buying today is getting devalued.

Now... if it goes BACK up to current rates, or beyond, in 20 years, yes, you've profited.

but it's still valued on the US dollar... Time will tell of course.

None of the people you quote truly "know".

They are just guessing and using their names (which is not worth much really) to make some money in the meantime.

Tu, I understand your reasoning, ...and while things appear very similar to what happened in the 70's & 80's that's where the similarity ends. In the 80's Voelker had tools to work with to combat the issue. Yellen has nothing. In addition, in the 80's, all we had were Western players. We're now in a GLOBAL playground, and China, Russia, India are major game changers.

It wouldn't surprise me if it did go down further. Goldman Sachs is urging clients to sell (while they're gobbling up as much as they can) This is a total shake-out of weak hands. I have no problem with the price going lower... I see it like an early Boxing Day sale where I'm able to acquire gold at sale prices using found money. Every Friday my euro denominated MasterCard gets automatically loaded up with funds that I didn't put there. That's free money that I'm able to use to acquire gold.

If I gave you $50,000 to buy gold, would you complain if were paying $5,000 per oz? No you wouldn't.That'd be an additional 10 ounces of gold that YOU now own, that you didn't have to dip into your pocket for. As it stands, I'm not overpaying even with gifted funds, because the gold that I buy... physical bars in smaller, more transaction friendly weights, is the highest quality gold there is, available at the lowest price available.

I do recall, yes. My point being that gold will be dropping again and then will be the time to buy... not when the trend is down like this.

That's just me though, I'm not a getbig millionaire so what do I know.

If you're trying to catch the run up, good luck. I follow the adage it's better to be a year early than a day late.I'd rather be sitting on my stockpile, or have mu heirs sitting on the stockpile PRIOR to it going parabolic.The recent price smashes have shown shortages of gold will abound the. I'd rather have it in hand before it occurs, ...but that's just me.

If you're trying to catch the run up, good luck. I follow the adage it's better to be a year early than a day late.I'd rather be sitting on my stockpile, or have mu heirs sitting on the stockpile PRIOR to it going parabolic.The recent price smashes have shown shortages of gold will abound the. I'd rather have it in hand before it occurs, ...but that's just me.